Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
The Enforcement Directorate (ED) has summoned West Bengal Chief Minister Mamata Banerjee's nephew and Trinamool Congress MP Abhishek Banerjee and his wife for questioning in a money laundering case linked to an alleged coal scam in the state, officials said on Saturday.
Subhash K Jha celebrates Ajay Devgn as the movie star turns 53.
While Governor Ravi's speeches have put the local BJP supporters on the defensive in matters of religion and social justice, his add-on 'attack on the constitutional scheme' in the 'Senthil Balaji case', has been condemned squarely by many legal experts and editorial writers across the country, thus adding weight to CM Stalin's position -- at least until the courts come up with their binding views, observes N Sathiya Moorthy.
The security forces unearthed this information while interrogating the members of the twin modules busted by the police in Rajouri recently.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
'There's this one scene in Gulmohar that belongs to Manojji and everyone was excited for him.' 'The evening before we were to shoot it, everyone, from Sharmilaji to the junior most actor, wished him luck.'
'He was suddenly nervous.'
'The next day, 14 actors, from Sharmilaji and Amol Palekar to Suraj Sharma, all watched him perform.' 'It was like being back in film school.'
'Salman is on television for the last 15 years.' 'Why don't you call Amitabh Bachchan a TV actor? He's been doing Kaun Banega Crorepati for 20 years.'
Bollywood is making beautiful pictures in different parts of the world.
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
In our mystery the watchdog agencies are silent, but it is the market that has barked and has not stopped barking. Till such time as it continues to do so, this headache will not go away, notes Aakar Patel.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.
Rejecting Das's plea, the court observed that it appeared that Shah's photo was shared with the intention of defaming him and tarnishing his image, and it clearly suggested "mens rea" (intention/knowledge of wrongdoing).
The expansion was the first by Sarma since he assumed chief ministership of the state about 13 months ago.
On Saturday, the quake measured 4.4 on the Richter scale in Vijayapura bordering Maharashtra, and there was another tremor of 1.8 this morning in south Karnataka.
The overall Air Quality Index (AQI) of Delhi stood at 398 at 11 am, worsening from 357 at 4 pm on Friday. It was 354 on Thursday, 271 on Wednesday, 302 on Tuesday and 312 on Monday (Diwali).
The biggest jump in earnings and decline in P/E multiples has occurred with top companies in metals and mining, corporate banking, and the oil and gas sectors.
Hrithik introduces us to Vikram Vedha... Ali Fazal's love letter... Mrunal's selfie from Chicago...
'Acting is probably the most wonderful profession anyone can have because you make every film set with 200 people, so you make 200 new friends every four months, and you learn so many things from these new lives.'
Replying to a question on the Enforcement Directorate raids at many places including at the premises of Chief Minister Charanjit Singh Channi's nephew, Sidhu slammed the Bharatiya Janata Party-led Centre over the raids and said the ED took action after nearly four years of the registration of the case.
The quarrel between Karnataka State Handicrafts Development Corporation Managing Director Roopa, an Indian Police Service officer, and Indian Administrative Service officer Sindhuri, the Muzrai Department Commissioner, reached the office of the Chief Secretary Vandita Sharma, with both submitting petitions seeking action against each other.
Deepa Gahlot lists the most popular Yash Chopra films -- the ones he directed, not produced (yes, so that means no DDLJ) -- that can be watched on OTT.
Security agencies could track the flight path and even address of criminals involved in this cross-border illegal activity that is rearing its head over the last few years, he said on Saturday.
'If you take music away from me, there's nothing else I can do.'
A CA director for 13 years, Eddings replaced David Peever in 2018 as interim chairman after the former mining executive resigned following the release of a scathing cultural review into the Newlands ball-tampering scandal.
'During my tenure, I have even seen influential people asking for sexual favour and availing it. Sodomy is common inside Tihar and the powerful people get such favours from inmates either mutually or with the help of jail officials'
Abhishek Banerjee, Trinamool Congress MP and nephew of West Bengal Chief Minister Mamata Banerjee, was questioned for about nine hours by the Enforcement Directorate (ED) in New Delhi on Monday in a money laundering case linked to an alleged coal pilferage scam in the state.
'Sanjayji is so spontaneous that you come to know immediately whether the dialogue or the script has touched him or not.'
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
In a first of its kind move, the Indian Railways Catering and Tourism Corporation (IRCTC), the ticket booking arm of the Indian Railways, is looking to monetise its bank of passenger data while conducting business with private and government companies. IRCTC has a large bank of data related to every online railway ticket ever generated as it is the country's only railway ticketing platform, an IRCTC official told Business Standard. The public sector undertaking, which has sought the services of a consultant to assist with the monetisation process, plans to raise Rs 1,000 crore through this exercise.
Family members of Bhadu Sheikh, the TMC panchayat leader whose killing on Monday is suspected to have sparked off the attack with petrol bombs on some 10 houses in Bogtui village on the outskirts of Rampurhat town, claimed that Sheikh's sons were among those arrested.
Love is in the air, as Bollywood continues to celebrate Valentine's Day.
Moushumi Chatterjee mourns Tarun Majumdar, who passed into the ages on Monday.
Hindustan Zinc (HZL), a subsidiary of Vedanta, announced an interim dividend of Rs 21 per share last week, resulting in an outflow of Rs 8,863 crore. The announcement has turned the spotlight on India Inc's dividend-paying policy - more so for reasons driving the generosity of firms. An analysis of BSE 500 companies by Business Standard Research Bureau shows that some of the top 20 dividend-paying companies in 2021-22 (FY22) include Vedanta, Tata Consultancy Services, HZL, Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IndianOil), Hindustan Unilever (HUL), Reliance Industries (RIL), and Bajaj Auto, among others.
'Sunny can command respect without raising his voice or fist. I wanted that personality for this character.'
'My father's life sends a message that there are positive things happening between India and China, no matter what happens at the border.'
The committee said the move 'clearly undervalued the company and its long-term growth prospects'.
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